Guideline Value for NEW LAURAL NAGAR EXTENSION

New Laural Nagar Extension guideline value

The current guideline value of New Laural Nagar Extension is Rs 151 per sq.ft, effective from 1 July 2024. This area is located in Karunakacherry village under the Salavakkam SRO, and the land classification is Residential Special Type - I.

How the guideline value of New Laural Nagar Extension has changed

The guideline value for New Laural Nagar Extension has seen several revisions over the years. The 2012 revision set the value at Rs 150 per sq.ft, which then changed to Rs 100 per sq.ft in the 2017 revision. Following this, the value increased to Rs 150 per sq.ft in the 2023 revision, and finally, the current value is Rs 151 per sq.ft as per the 2024 revision. The register has no figures for the years 2002, 2003, and 2007 for this street.

From 2012 to 2017, there was a decrease of 33%, but from 2017 to 2023, the value increased by 50%. Overall, from 2012 to 2024, the guideline value has increased by 1%.

Guideline values in Karunakacherry

In Karunakacherry, there are 10 streets under the Salavakkam SRO with a 2024 guideline value ranging from Rs 100 to Rs 200 per sq.ft. The median value for these streets is Rs 100 per sq.ft, which means that New Laural Nagar Extension's 2024 figure of Rs 151 per sq.ft is above that median.

• New Laural Nagar: Rs 151 per sq.ft (2024)
• Muthamil Nagar: Rs 100 per sq.ft (2024)
• Sachin Nagar: Rs 100 per sq.ft (2024)
• Sachin Nagar Extension: Rs 100 per sq.ft (2024)
• Karthik Garden: Rs 200 per sq.ft (2024)
• Ganaprakasham Nagar: Rs 100 per sq.ft (2024)

Stamp duty and registration fee for property in New Laural Nagar Extension

For a 1,000 sq.ft plot at the current guideline value of Rs 151 per sq.ft, the total guideline value would be Rs 1,51,000. The stamp duty at 7% would amount to Rs 10,570, and the registration fee at 2% would be Rs 3,020, making the total fees Rs 13,590. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers New Laural Nagar Extension?

The Sub Registrar Office that covers New Laural Nagar Extension is the Salavakkam Sub Registrar Office, located at 2/1a, Thottakkara Street, Salavakkam, 603 107, Chengalpattu registration zone. You can find your SRO for further assistance.

How the guideline value is used when you buy or sell in Karunakacherry

The guideline value is a crucial factor during the registration of property transactions in Karunakacherry. It determines the minimum value at which properties can be registered and is used to calculate applicable stamp duty and registration fees.

When buying or selling property, the guideline value ensures that the transaction reflects a fair assessment of the property's worth based on the current market conditions as determined by the Registration Department. It is essential for both buyers and sellers to be aware of the guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of New Laural Nagar Extension?

The current guideline value of New Laural Nagar Extension is Rs 151 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 150 per sq.ft in 2012 to Rs 100 per sq.ft in 2017, then to Rs 150 per sq.ft in 2023, and currently stands at Rs 151 per sq.ft in 2024.

What is the land classification for New Laural Nagar Extension?

The land classification for New Laural Nagar Extension is Residential Special Type - I.

Where is the Salavakkam Sub Registrar Office located?

The Salavakkam Sub Registrar Office is located at 2/1a, Thottakkara Street, Salavakkam, 603 107, Chengalpattu registration zone.

What are the stamp duty and registration fees for a property in New Laural Nagar Extension?

For a 1,000 sq.ft plot at the current guideline value, the total stamp duty would be Rs 10,570 and the registration fee would be Rs 3,020, making the total fees Rs 13,590.